By Sheri Kasprzak
New York, Oct. 19 - The Washington Convention and Sports Authority of the District of Columbia sold $248.405 million in series 2010 revenue and refunding bonds (A1/A/A+) on Tuesday through Goldman Sachs & Co., according to a pricing sheet.
The sale included $66.525 million in series 2010A convention center hotel project tax-exempt recovery zone economic development revenue bonds, $110.07 million in series 2010B senior-lien dedicated tax revenue bonds and $71.81 million in series 2010C federally taxable bonds.
The 2010A bonds are due 2015, 2025, 2030 and 2039.
The 2010B bonds are due 2030 and 2040 with a 4.5% coupon and a 5% coupon, respectively.
The 2010C bonds are due 2015 to 2021.
The details of the 2010A and 2010C bonds were not immediately available.
The co-managers were Siebert Brandford Shank & Co. LLC, Bank of America Merrill Lynch, Loop Capital Markets LLC and Morgan Stanley & Co. Inc.
Proceeds will be used to construct, acquire, develop and equip the Convention Center Hotel.
| Issuer: | Washington Convention and Sports Authority, D.C.
|
| Issue: | Series 2010 revenue and refunding bonds
|
| Amount: | $248.405 million
|
| Type: | Negotiated
|
| Underwriters: | Goldman Sachs & Co. (lead), Siebert Brandford Shank & Co. LLC, Bank of America Merrill Lynch, Loop Capital Markets LLC and Morgan Stanley & Co. Inc. (co-managers)
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A
|
| Fitch: A+
|
| Pricing date: | Oct. 19
|
| Settlement date: | Oct. 26
|
|
|
| $110.07 million series 2010B
|
| Maturity | Type | Coupon
|
| 2030 | Term | 4.5%
|
| 2040 | Term | 5%
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
